Qatar Investment Authority (QIA) has acquired 32 residential buildings in Japan through Hong Kong-based Gaw Capital Partners for an undisclosed amount.
IPE Real Assets understands that Gaw Capital acquired part of the portfolio (12 assets) through one of its Gateway real estate funds earlier. However, the whole portfolio plus additional 20 buildings are now acquired under a separate account, ultimately held by QIA.
Christina Gaw, managing principal and global head of capital markets at Gaw Capital Partners, said her firm and QIA planned for more acquisitions of quality residential assets across major cities in Japan.
“We look forward to exploring further opportunities across various property sectors and generating favourable returns for this partnership,” said Gaw.
Isabella Lo, managing director and head of Japan at Gaw Capital Partners, said: “These high-quality residential assets will provide stable and defensive cash flows for our investors.”
The bulk of the 68,432sqm seed portfolio is located in Tokyo, and the remaining assets are located in Osaka, Kyoto, Yokohama and Sapporo.
Gaw Capital entered the Japanese market in 2014 through its first investment in Hyatt Regency Osaka and successfully exited in what was the second-largest hotel deal in Osaka in 2016, selling it for US$153m (€143m). It paid US$30m for the property.
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